emmetttrudy

A DB Plan contributed $100,000 in 2008. When the valuation was finalized the required contribution was only $80,000. They would like to apply the additional $20,000 towards the 2009 contribution. Can they do this? Would it not be reflected on the Schedule SB since it is not a 2008 contribution, but a 2009 contribution?

Could someone please provide a brief (I know with this topic it's not necessarily easy) description of the difference between Funding and FAS 87 and under what circumstances is a FAS 87 valuation required? Thank you!!

A DB plan participant turned 70 1/2 in 2008. His required beginning date is 4/1/2009 for a RMD. What is the deadline for the required distributions? His first one obviously has to be taken on or before 4/1/2009. However, let's say he gets paid out 3/1/2009. Is his next required minimum distribution not due to be paid out until 3/1/2010, a period of no longer than 1 year later? Or does the deadline move to the end of each calendar year. So if he took a distribution 3/1/2009, another one would be due 12/31/2009? And each successive payment would be due by the end of the calendar year for which the dsitribution applies? Thanks!!

I was wondering if anyone had a good chart for estimating the maximum DB contribution for one-person plans. For example, Current Age on the y axis, Normal Retirement Age on the x axis, and then an estimated maximum contirbution at the intersection of the two. For example, someone who is currently Age 52, NRA = 65 Maximum annual DB contribution = $110,000?? Thanks!!

Because the 401(k) contribution is not more than 6% of compensation the DB contribution is not subject to the combined plans deduction limit? So, in final he can make the following contributions and deduct all of them: (1) $20,500 deferral (2) $13,800 profit sharing (3) $73,152 DB Correct?

One man DB Plan also with a 401(k) Profit Sharing Plan. Compensation is greater than $230,000. His minimum required contribution for the DB plan is $0. The maximum deductible contribution is $73,152. If I understand correctly the total contributions he would be able to make for 2008 is the sum of: (1) Minimum DB contribution = $0 (2) 401(k) deferrals = $20,500 (including catch-up) (3) 6% of comp for profit sharing = $13,800 Now, he is also subject to the greater of the above and the 25% limit (deferrals dont count towards this), correct? So 25% of his compensation is $57,500. Is this the maximum he can contribute and deduct for 2008 in the DB and DC plans combined? So if he contributed $13,800 to the 401(k) plan and $43,700 to the DB plan would he be ok? Thanks for your help, I very much appreciate it!!